Credit card interest rates to rise on a whim

The average American family thousands of dollars owed the credit card. In view of the average interest rate credit card for the current within 18% of the monthly payment card issuing banks to receive very substantial progress. These results are important, especially when the fees paid by merchants combined purchasing card in the first place and accept payment links. The growth of the industry, and the subsequent earnings growth has slowed downSome things, because credit card customers, the federal minimum wage is higher than last year's monthly payment. As the average minimum repayment amount has doubled to about 4% of the balance, many customers have begun paying their credit balance. If the budget has decreased, so the profit.

If you go on the credit card companies can increase their profit? It is very easy to add to their only interest charges, their customers. Customers can find theTheir interest rates rose to as high as 30% per year of people below the "crime" of each:

Pay your credit card bills. In addition to late fees on the amount of 39 yuan, late payment is likely to lead to an increase in interest rates on the card.

Pay any bill late. This provision is that, in the so-called "universal default" clause that allows credit card companies to raise interest rates, if you make a payment agreement many of our customers sitesAlmost everyone. This may be mortgages, car loans, and even a utility bill.

Too close to your limit. If you find that your balance crawl close to the limit, you can choose your card-issuing bank, you are now a "dangerous" customers, and your interest rate can be increased accordingly.

You are not satisfied with restrictions. These banks require you to use credit cards. Too much credit may also be raising interest rates.

Everyone, or no reason. Most of the client's websiteAgreement allows card-issuing bank of any interest-rate, even for the so-called "fixed" interest rate account. The only legal requirement is that it will be 15 days.

How can you avoid in your annual rate of 30% interest? In some cases, it will be inevitable, in which case you should consider applying for another card. Otherwise, you should pay all the bills on time and be carefulYour task, at least for the money. If you have a card, with a very high threshold that you rarely use, you can check if they reduce the company at the border. If you have a high balance, you can see in some or all of the balance to another card. Can even consider the assets to pay loans.

Credit card companies have more reasons for wishing to Canada, looking for interest rates. The last thing you, as a consumer to do so,Can easily do for them.